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Per my contact at NS, As HAFA is expiring on December 31, 2016 they are establishing a deadline date of December 1, 2016 to review packages for HAFA eligibility. Any package received after that…Continue

We want to escalated this from Nationstar.... We have an executed contract for 4 months ..... NOW, Nationstar wants to start an AUCTION.... the seller is a veteran with a hardship and the buyer is a…Continue

I have an FHA short sale with nationstar received an ATP recently. The negotiator told me we need to net 84% of appraised value now the ATP stated it needs to net atleast 88%. Also the owner notified…Continue

I am a private lender and i give out loan to people as to assist them in various ways like settlement of debts,re consolidation and perhaps start new business to earn a living.I was settled a huge…Continue

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I too was forced to use Homesearch.com It really is just a formality from what I can tell. I did have to have the open houses and had to print out a copy of the MLS that showed the open house dates. I helped the buyer and the buyer's agent to register online and place their bid. There were no other bids even close to the original buyer's bid. It did slow down the process and was a big pain, but the original buyer did get his offer accepted by Nationstar and everything went fine.

@amy -- I would not worry too much about homesearch. First, if you're close to what the investor wants, then it will be very rare for a bidder to come close to your buyer's offer because bidders tend to underbid. Second, the bidder will need to pay the 5% premium, and your buyer will not. I have never lost a sale to a bidder. The first thing they do is find out who has the home listed, and they then see the home is pending and they figure out what's going on and they don't bid. I don't help them out, either, no open houses, no assistance, they are on their own. Just watch the bidding and I don't recall if Nationstar is now prevented from shrill bids, which was going on for awhile. You might ask your buyer to register online, just in case, and your buyer can bid his own offer, but don't do it until you are very close, within the last hour of bidding. That way he is "in the process" in case somebody bids more than your offer, but that is unlikely to occur. All this process seems to do is delay the short sale approval process, but I can tell you that a buyer who is registered seems to get a faster short sale approval than the buyer who does not register. So there is that.

Is there a way around it to prevent going to homesearch.com? I was told that our offer is close to what investor wants. The Buyer's Agent told me that the buyer is willing to up his offer to $20K more so long as it doesn't go to auction. What would you do in this scenario? Who can I reach out at Nation Star so that it goes traditional instead of auction. They will be getting their money or more. But the Auction Negotiator said to me that there is no way around it and don't even want to talk to me on the phone, I tried how many times. By the way, this file is delegated.

They add the buyer's premium to the high bidders price and that becomes the total purchase price the buyer is buying it at. The fee actually ends up showing as a seller closing costs on the settlement statement. So financed buyer's are able to do it. It is still a shame though.

Does anyone know a number to Nationstar's legal department? I have a file that's been sitting there for almost a month. They keep saying they cannot connect me to legal but will have someone from legal to call me back. I've left several messages.

In the last 2 auctions I did with Nationstar, one the buyer registered and bid and the other the buyer did not register. The basic difference is the buyer who registered got approval in one week. The buyer who did not register, well, they started the short sale over after the auction and it took another 6 weeks or so for approval. My suggestion is to register and make the same bid about 5 minutes prior to ending the auction, providing, of course, nobody else has bid higher. But I've never seen anybody outbid the original buyer. That 5% premium kills it.

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